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732,736,740 Michael St Iowa City, IA 52246 • Multi Unit - Multiple • Active

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Description

42 multifamily units are available, comprising 3 buildings with 14 units each. There are 36 one-bedroom, one-bath units and 6 studio units. The roofs were replaced in 2018, and various improvements have been made to the units, including new carpet, updated kitchens, and new tubs in many of the units. The property is conveniently located near UIHC and the West University of Iowa campus, within walking distance of Kinnick Stadium. Rents have steadily increased. Tenants are transitioning to RUBS for utility payments as they move into their new lease terms.

Property Highlights

Property Type: Multi Unit - Multiple

General Information

Sqft: 8,064
County: Johnson
High School: West
Listed By:
LEPIC-KROEGER, REALTORS Matthew Lepic 319-351-8811
Cedar Rapids MLS
$3,750,000
Est. $26,778/mo
8,064sqft
New to the Market Active
BEDS0 BATHS SQUARE FEET8,064 MLS#2606757
STATUSActive PROPERTY TYPEMulti Unit - Multiple
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Shown By

Agent Name: Susan Rekward
 Agent Phone: (319) 430-1701
 Agency Title: Ruhl&Ruhl Realtors
 Agent Email:

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732,736,740 Michael St , Iowa City, IA 52246.

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Loan Type FHA 30 Year Fixed30 yr Jumbo
Purchase Price $3,750,000$3,750,000
Down Payment $131,250$750,000
Monthly Mortgage Amount $25,118$20,465
Taxes $5219$5219
Insurance $100$100
HOA/Dues/Fees $0$0
Monthly Mortage Insurance $2,252$0
Monthly Estimated Total $33,683$26,778

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